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LUKOIL to Fill Cars of Chinese Friends
Russia’s oil giant, LUKOIL, is in talks with Chinese CNPC about the join retail of petroleum in China, eyeing more than 100 petrol stations in three provinces of that country. In return, CNPC, may demand the access to the crude oil production in Russia, at least it has done so when negotiating with Rosneft.
LUKOIL and CNPC are talking over the joint control of the gasoline stations in three northeastern provinces of China, said a source familiar with the progress in negotiations. The matter at stake is more than a hundred of gasoline stations, the source said, stressing China is of strategic interest to the company.
Nowadays, LUKOIL that stopped shipping oil to China by railway in 2005 is annually supplying a few million tons of crude and petroleum there via its subsidiary trader Litasco. But that crude is not of Russia’s origin. The company is ready to deliver Russia’s oil as well, doing it via the Eastern Siberia-Pacific Ocean pipeline, and to supply crude from Kazakhstan through the Atasu-Alashankou pipeline. Another possibility canvassed by the parties under the cooperation project is processing the crude of LUKOIL at Dacin refineries of CNPC.
The current progress in LUKOIL-CNPC relations “is in full conformity with strategic program of trade and economic relation development of the governments of two countries,” said Sergey Sanakoyev, who chiefs Russia’s-Chinese Center of Trade and Economic Cooperation. The agreement with CNPC will make LUKOIL Russia’s second company with access to retail market of China. The pioneer was Rosneft, which agreed with CNPC in spring to set up a venture for retail sale of petroleum.
The source said CNPC and LUKOIL may seal their agreement during the highest summit of Russia and China slated for early November.
www.kommersant.com
All the Article in Russian as of Aug. 31, 2006
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